CBS Given BBB Credit Rating by Morningstar (CBS)
CBS (NYSE:CBS) has received a “BBB” credit rating from analysts at Morningstar. The agency’s “BBB” rating suggests that the company is a moderate default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of CBS in a research note on Thursday, August 28th. They now have a $63.00 price target on the stock. Separately, analysts at Barclays cut their price target on shares of CBS from $68.00 to $65.00 in a research note on Thursday, August 21st. They now have an “equal weight” rating on the stock. Finally, analysts at FIG Partners raised their price target on shares of CBS to $350,000.00 in a research note on Tuesday, August 19th. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $17,565.09.
Shares of CBS (NYSE:CBS) opened at 58.53 on Thursday. CBS has a 52 week low of $53.01 and a 52 week high of $68.10. The stock’s 50-day moving average is $59.18 and its 200-day moving average is $60.95. The company has a market cap of $30.835 billion and a price-to-earnings ratio of 18.98. CBS also was the recipient of a large decline in short interest in August. As of August 15th, there was short interest totalling 18,781,465 shares, a decline of 13.5% from the July 31st total of 21,719,474 shares. Based on an average daily volume of 6,656,897 shares, the days-to-cover ratio is currently 2.8 days. Approximately 4.0% of the shares of the company are short sold.
CBS (NYSE:CBS) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts expect that CBS will post $3.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, September 8th. This is a boost from CBS’s previous quarterly dividend of $0.12.
CBS Corporation is a mass media company. The Company has operations in segments, which include Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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